The Must-Read Articles for Talent Professionals This Week
If you’ve recently hired a new employee whose salary is higher than an existing employee in the same role, we’ve got news for you: You need to have a compensation conversation with that existing employee, ASAP.
“Employees whose pay increased soon after the addition of a higher-paid coworker tended to stay in their jobs a lot longer,” writes the Harvard Business Review in a recent article, “whereas those who had to wait for a raise were more likely to quit.”
To drive this point home, HBR highlights the following:
When an existing employee’s compensation was addressed within a month of the new hire, they stayed with that employer for an additional 2½ years.If a raise wasn’t implemented until six months after the new hire, retention dropped to an average of 1½ years.And if that existing employee didn’t get a pay bump until a year later, on average they quit just 13 months after the new worker was brought onboard.
To learn more about this compensation issue — and why it’s especially important for a company’s high performers — be sure to check out HBR’s article at the top of our list below of must-read articles for talent professionals.
And further down our list, you can also check out LinkedIn’s hot-off-the-presses 2024 thought leadership reports for L&D and talent professionals; learn a thing or two about creative personal branding; and find out why it may be time to give up on our old friend email.
Here are the must-read articles from this week:
1. When New Hires Get Paid More, Top Performers Resign First (Harvard Business Review)
2. Considering Candidate Flaws in Interviews (ERE)
3. 10 Steps to Do HR Differently (Ashley Herd on LinkedIn)
4. 2024 Talent Reports: Insights and Actions for the Age of AI (LinkedIn Talent Blog)
5. Marta: The Movie — A Lesson in Personal Branding (Marta Puerto on LinkedIn)
6. Three of the Most Popular DEI Myths Debunked (The Pink Elephant Newsletter)
7. ‘Does Remote Work Cause Productivity to Go Up or Down?’ That’s the Wrong Question to Be Asking (Amina Moreau on LinkedIn)
8. Employees Need AI Skills — But What Does That Training Look Like? (HRDive)
9. It’s Time to Give Up on Email (The Atlantic Memo)
10. How to Have a More Productive Year (The New Yorker)
Here is the must-listen podcast:
Is AI Changing Job Seeker Behaviour? (Recruiting Future with Matt Alder)
